Peanut the Squirrel (PNUT), a Solana memecoin based on a social media-famous squirrel, has recorded up to a 31% surge in price. The surge in PNUT coin follows the announcement of Coinbase’s plan to list the token for trading.
PNUT will join Mog Coin (MOG) and Moo Deng (MOODENG) from the Ethereum and Solana blockchains, now trading on Coinbase.
PNUT Coin Takes Memecoin Spotlight with Coinbase Listing
The token’s market value is currently pegged at $1.32 per market data.
In addition to a price rally, the token’s market cap has climbed to $1.31 billion. Following the hype, its trading volume jumped by 10% to $1.31 billion.
Judging by historical data, this sentiment is not unfounded. A PNUT coin price surge usually follows whenever a top crypto exchange lists a project’s token for trading.
This accompanying bullish trend was discovered in 2019 and dubbed the “Coinbase Effect.”
This effect is not limited to Coinbase alone. Two weeks ago, Thena (THE), a DEX and
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